The Ultimate Status Symbol: Freedom

yacht

I’m now just over one week into a two-week break from the hustle and bustle of the 50-hour workweek at my day job.

Life is good.

I’ve been aggressively saving and investing my way toward financial independence for four years now, and blogging about it for most of that time period.  But it’s hard to know exactly what financial independence is like because I’ve never actually had it. I mean, I’ve had periodic breaks from full-time work for one reason or another over the years. And, of course, I had a long pause from work in my early 20s as I wasted away an inheritance. Ahh, youth. They say youth is wasted on the young; I’m inclined to agree.

So I’m chasing after this concept of financial independence, but I’ve never experienced it. How do I know I’d even like it? What would I do all day without a superior at work telling me what to do? Would I just end up staying in my pajamas all day long in a daze?

Now while I’ve had sporadic time off from work, I’ve never had a break like this. I’m now completely enveloped in my journey to financial freedom, and my dreams and goals are clearly laid out. So this is the first time I’ve had time to sit back and enjoy the hard work I’ve put in over the years while also taking advantage of unstructured free time as I continue to push myself closer to the freedom I crave so badly. It’s one thing to have time off in your early 20s when you don’t really know where you’re going in life or what you want, and quite another thing to have time off when you’re chasing after a dream with all your being.

And what I’ve learned from this time off is that freedom is the ultimate status symbol.

It seems that most of the world judges wealth by money. And there’s no better way to show off your money than by having status symbols. Objects like a big house, luxury automobiles, a yacht, hired help, large parcels of land, exotic vacations, and expensive clothing are all status symbols that are meant to convey wealth, power, and happiness. It seems us human beings are not far removed from peacocks and their affinity for showing off the colors of their feathers.

However, while I’m aggressively building my wealth it’s not for purposes of money. No, I’m actually building my wealth so that I can gain access to a status symbol way better than the biggest mansion, the longest yacht, or the most colorful feathers. I’m chasing the ultimate status symbol: freedom.

We are all aware of the unique relationship between time and money. Money is time, and time is money. But time is a lot more than money, folks. Time is everything. Without time, you have nothing. Time is life, and life is time. Without one, you also lose the other. And day by day, we’re losing a little bit of both because we’re all slowly dying. So I’m trying to build up as much money as I can so that I can also have as much time as possible. And I plan on cashing it all in for the ultimate status symbol that is freedom.

So what have I been doing during this little preview of financial independence?

I’ve been spending this time off concentrating on all the things that bring me great joy. My personal passions are primarily: investing, writing, frugality, fitness, and spending time with people I care about.

I’ve been researching investments with even greater detail than usual. I’ve been pouring my heart out in my writing, as you can see with this article. The workouts have been bigger and better. And while it’s hard to spend time with family when I’m 1,200 miles away, I’ve been able to spend time with the people I care about in my immediate life here in Florida. Basically, I’ve been able to live my life on my terms.

And it has been wonderful!

With freedom, we can actually live our lives in a manner that befits us. And it’s tough to do that when we’re spending countless hours per week getting ready for work, traveling to work, putting in the time at work, coming home, unwinding after a long day, and then finally settling in to what we actually want to do. How can it be that we’ve been up for more than 10 hours and we’re just really starting our day?

Now that I see what freedom is like, my questions have been answered. I love it, and I want as much of it as I can possibly get my hands on!

While having the traditional status symbols like a McMansion and a hot sports car in the driveway seem nice, the hidden truth is that these objects require a ton of work to not only purchase, but also to pay for the ongoing costs like maintenance and repairs. How can you possibly enjoy that big house when you’re constantly working to pay for it? Status symbols mean nothing if you can’t actually enjoy them.

But that’s the great thing about freedom. You can enjoy it, because freedom is time. And time is life. With freedom you can chase your dreams, passions, goals, and aspirations.

Enjoy painting? Freedom allows you to paint your heart out. While it might be tough to pour your heart out on the canvas when you’re busy working all the time, freedom unlocks the time necessary to put color to white and bring life to your paintbrush.

Want to travel? It should go without saying it’s impossible to travel anywhere when you’re stuck at work. And while travel isn’t cheap, travel also doesn’t mean 5-star resorts and first-class airfare. Furthermore, freedom can be as cheap or expensive as you want it to be. I enjoy writing, and writing is free. Travel isn’t. The latter idea of freedom would simply require a larger passive income source to sustain.

But it doesn’t really matter what your passions are in life if you’re not actually enjoying them. You could talk about how you love flying model airplanes. But if you haven’t done it in two years because you’re so busy working to pay the bills you’ve mounted up for yourself it’s not really a passion at all. At that point you’d better hope paying bills is a passion because that’s what you’re actually doing.

But paying bills isn’t a passion for me. And I hope it’s not for you either.

Freedom can be attained. It simply requires a plan of action.

My plan is to live as frugally as possible, while still enjoying my life in the now. I then leverage this frugality by using the savings I generate to invest in high quality companies that have a lengthy history of rising dividends. Companies like Johnson & Johnson (JNJ), PepsiCo, Inc. (PEP), and Philip Morris International Inc. (PM) are all major holdings for me because they generate huge profits and share a piece of that profit pie with me in the form of dividends. As their pie expands they send me greater pieces. And who doesn’t love pie? Or money?

These dividends, or freedom chips as I call them, will one day pay for all of my living expenses. Once my passive dividend income exceeds my living expenses it’s sayonara to the day job. I could keep working, because by giving up a stable source of income so early in life likely means I’m giving up millions of dollars in potential earnings. But what would I do with the extra money? Buy status symbols? Why bother when I’d already have the greatest status symbol of them all? Plus, I’m already a guaranteed millionaire.

A job simply gets in the way of me and my passions. It’s a wall standing between me and freedom. I plan on breaking down that wall one day because after this little break I know exactly what’s on the other side.

How about you? Do you believe freedom is the ultimate status symbol?

Thanks for reading.

Photo Credit: Gualberto107/FreeDigitalPhotos.net

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68 Comments

  1. Absolutely! One of the goals of financial independence for me will be spending more time with my wife and children, or, as the case may be, my grandchildren. When I’m no longer stuck in my 9-5, I look forward to giving those hours to the people I care most about. We recently took a multi-week family vacation and it was SO refreshing to just leave work behind and focus on my family. No phone calls, no emails, no “sorry but I have to stay late tonight.” Just time in its purest form. It definitely whets the appetite for freedom. I know how you’re feeling right now. It will be hard for you to go back. It was for me.

    Freedom is out there. We just have to go out and take it.

  2. People think I’m crazy when I tell them I’m going to walk away in 10 years. By then a few of my properties will be paid off, my true passion is to work on my investments.

  3. It sure is Jason. The next most important thing after your health, is the freedom to enjoy your life. The flexibility to follow my passions and time to help others are huge goals of mine. We’re getting there and I know you are too!
    -Bryan

  4. Jason, glad you are enjoying some time off in beautiful, and sunny, Florida. Just remember, tune out the noise and take one day at a time. I have no doubt you will realize your goals, and sooner than you may think!!!!!!!

  5. First comment from a long time reader. Glad to hear that you are having such a good time away from work. It’s hard to believe that you only get 2 weeks of leave a year. Here in Australia, 4 weeks a year is standard and many people have 5 weeks or more. It’s no wonder you’re so motivated to reach you goal!

  6. Oh yeah, control over your time is the ultimate way to show you are wealthy. If you can earn money without working 50 hours a week at your day job place and you are not tied down to a certain location, you are financially free. With dividend paying stocks you will be paid a rising wage that will grow faster than inflation and your day job income. Plus monitoring that portfolio of solid blue chips will only take several hours/week, and could be done anytime of the day you choose and anyplace in the world you happen to be in. That would free up a tremendous amount of time to pursue other activities.

    I see your sneak peak at FI is going pretty well ..

    Dividend Growth Investor

  7. The question is: Money or freedom?
    I think if you spent a lot of money, you get used to it.
    And then you need every year more and more money!
    But for that, you have to work and invest – and at the end you’re working every minute on. And you have no freedom at all!

    If you use the money for freedom You’re much calmer and happier. 🙂

    Best regards
    D-S

  8. Really hit the nail here on the head Jason. Finding the strength to focus current efforts on developing the true nature of wealth, which is the freedom from time commitments.

    Glad you’re having a great start to week two of your work hiatus! Keep on cranking and soon that day job will be but a distant memory!

  9. Totally agree Jason, the energy to pursue this comes in wanting to spend more time with family and friends then hang the hat up and not have to work for someone else. Each day, it gets closer and closer 🙂 The internet has been transformative, amazing to think prior to 2000 all this wasn’t really very practical and now look? Opportunities abound..

  10. Glad to hear you’re enjoying a taste of freedom. Addictive eh? 🙂

    I’ve been getting a little taste of it as well. I’ve been “voluntary unemployed” for the past eight months, a trend that I experienced the year before when I returned back to the states. Amazingly my net worth has increased both of those years and because I’m able to keep my expenses low it doesn’t take much money to live well and that is why I believe you, me and the rest of the bloggers are so consumed by the idea of freedom (time); to live our own authentic versions of the good life.

    I’ve used my freedom over the past eight months to continue the rehab work on the house and learning several new skills along the way. I’ve increased my cooking skills to a level where I’m not only eating healthier and more flavorful foods, but my cost of food is getting cheaper. I’m looking forward to growing my own garden this year and learning how to can. I’ve developed a consistent yoga practice, spent time increasing my understanding of environmental ethics and in general, have been learning how to live well.

    I’ve also come to the realization that not being tied to the need for a paycheck frees one to explore other options of income. That is what I’m experimenting with at the moment. Not the fast track to independent financial freedom, but a type of semi-financial freedom that I find appealing.

    I’m looking forward to seeing what you do with your freedom once you own your time. I’m expecting big things Jason. 🙂

    The Stoic

  11. Jason, Your post is exactly why I am working towards FI. I’ve been feeding my brother bits of FI wisdom, but will forward this post to him because it’s exactly what I want (and what I think he wants as well, but doesn’t fully understand it yet).

    At my day job, we get 80hrs of paid vacation. A few of the guys prefer their time off to the money they make while working, so they also take additional unpaid time off. I understand why they do it, however I want my FI before taking unpaid time off. One of the VPs blew up at one of these guys saying “How can you take unpaid time off? Why dont you want the money? You only get X-hours of paid time off, and you’re taking additional unpaid time off???” The employee replied “well, I don’t care about the money and I prefer my time.” The VP was flabbergasted at the response and couldn’t understand it.

  12. That last line about jobs getting in the way really struck true for me a few weeks ago. I was about to enter a position on a stock, and then my boss called me over. When I got back to my desk, the value had jumped 0.5%, I was so mad.

  13. Oh Yaaaaah baby! You are so leaving the 9-5 behind. Bring it on!

    I can hardly wait until you write that one definitive post, “I Quit My Job Today!” By then you’ll have the $1 million portfolio. Keep up the good work and you’ll get there soon enough for sure!

    Cheers

  14. I definitely agree that freedom is the ultimate status symbol.

    Even a couple of days away from work is a fantastic feeling, no need to set the alarm, choice to lounge around all day if you wish, or the choice to have a full day doing lots of things that you enjoy.

    One of the things that really gets to me is when the weather has been nice all week, and then it rains all weekend

  15. Tyler,

    Thanks for sharing that. So glad to hear you had your own little sneak peek at true freedom. That’s fantastic!

    And I’m completely with you. Freedom isn’t some abstract concept. It’s right in front of us; it’s the time we’re spending everywhere else.

    I hope you’re able to take your freedom sooner rather than later.

    Best wishes.

  16. DGI,

    The sneak peek is going wonderful. I don’t want to give it up! 🙂

    You’re preaching to the choir, my friend. One wonderful thing about relying on dividends to fund your financial independence is that you can manage the portfolio from literally anywhere in the world. Contrasting that with relying on rental income, and you can see the advantages. Sure, a management company could handle just about everything for you for a fee. But inevitably you’ll be involved in some type of tenant issue or vacancy, or the occasional touring of properties to make sure everything is on the up and up.

    Now some people enjoy this kind of stuff much in the same way we enjoy monitoring companies, but it’s just not for me. I think the dividend investing strategy allows for a lot more freedom, and I wouldn’t have any worries engaging in long-term travel because I wouldn’t have properties back in the States concerning me.

    Thanks for the perspective. I totally agree with your mindset.

    Best regards.

  17. Wow Jason!! You have been just cranking out the articles for us to enjoy! Thank you so much!

    I totally agree its all about the freedom! I wonder if we could hear from those in the audience that have already reached that point? Is it all we hope for? Please chime in if you have reached what we all are looking forward to?

  18. Charles,

    People often give me a strange look as well when I tell them I’m willing to walk away from a stable paycheck by 40 years old. But I share your enthusiasm and passion. Running a portfolio is a passion for me, and the fact that passion just so happens to pay my bills (via dividends) is just icing on the cake.

    I chase after what I love because life is too damn short not too. 🙂

    Cheers.

  19. Bryan,

    You were up early this morning! 🙂

    And I agree health is very important.That’s one reason I take fitness and exercise so seriously. It’s a good thing I love to work out, because otherwise it would just be a buzzkill to hit the gym a few times per week.

    I know you’re getting there one day at a time. Keep fighting the good fight!

    Take care.

  20. David,

    Thanks for the kind words. Appreciate the well wishes. 🙂

    And I’m really enjoying this time off. I have the patio door open, and the warm breeze is flowing into the living room as I type. Feels great!

    Although, my boss called today and stopped just short of requiring me to come in this Saturday for this annual event at the dealership. So it might not be as long of a vacation as I originally thought. But they’re giving me one vacation day to use another day. This experience just motivates me to reach FI even sooner. I won’t have to worry about an employer beckoning when I no longer have one.

    I hope your journey to FI is going just as well as mine.

    Cheers!

  21. Kevin,

    Thanks for the readership. And thanks as well for dropping your first comment. I hope you stay in touch!

    Man, I can only WISH I got 5 weeks of vacation per year. Of course, maybe it’s a good thing I only have two weeks. It’s what’s motivating me to pursue FI so aggressively. If I had 5 weeks of vacation I might be a little complacent. Nah, I’d still take the 5 weeks if I could as that would make the journey even easier. 🙂

    I understand Europe is similar to you guys with vacation time. Here in the US it’s work, work, work. All work and no play makes Jason a dull boy.

    Enjoy the longer vacation breaks! 🙂

    Take care.

  22. D-S,

    You got it. Money is time, and time is money. The wonderful thing is that with enough time you’ve also got all the time you want. Spend all your money, and with it you will have spent your time.

    Cheers!

  23. W2R,

    Thanks for the support. I really appreciate it!

    It’s definitely been a great start to week two. Unfortunately, that start was dampened a bit because my boss called me today and strongly encouraged I come in this Saturday due to this big annual event going down at the dealership. He gave me a vacation day to use another time, but it still sucks.

    Just goes to show that as long as I have an employer signing my checks I’m not truly free.

    I just read your January update. You’re doing great. Keep up the solid work!

    Best regards.

  24. talesfromthetape,

    The internet is an amazing thing, isn’t it? Before the internet not only would it not be possible for me to make a little side income in the manner I do, but it would also be much more difficult to invest in the companies I do. Doing what I do in the way I do it would definitely be much more difficult, but not impossible. I’d like to think that I’d still power through and do what’s necessary, but it wouldn’t be easy.

    Even just us communicating like this wouldn’t be possible. So all the support help we offer to each other as a community would be gone.

    It’s funny, Warren Buffett has talked about how he thinks the internet is worth way more than what people pay for it. I’m inclined to agree. I get kind of upset when I see my internet bill from Comcast go up a bit, but then I realize it’s worth every penny and more.

    Cheers!

  25. The Stoic,

    Good to see you ’round these parts again. 🙂

    I read your post just the other day showing the pics of the house. Meant to comment, but got wrapped up in things. You’d think I’d have more time now, but I’m extremely busy. Hard to imagine how I fit a 50-hour workweek into my schedule. Great job on the house. The window looks great, and the floors do as well!

    Your voluntary (f)unemployment sounds pretty awesome! Not having a full-time job means you can be real creative with how you make and save money. You don’t have to spend money to reward yourself after a hard week, and you don’t have to eat prepared food because you don’t have the time to make it yourself. Good stuff!

    I often think about a different avenue. And this recent break has opened my eyes up a bit. Maybe coasting to the finish line with a part-time job or something might not be a totally bad idea. I could get a little creative with my bills and probably get them back down to the ~$1,200 level I was at a year or so ago. At that point, my dividends would be covering more than 1/3 of my expenses, and I’d only need to earn another $800. Factor in the ability to earn a little money online, and presto! It’s something that I wasn’t considering until lately, but, like I said, this break has definitely opened my eyes to all the life I’m missing out on. And it’s also made me realize what freedom actually looks like. Any doubts I had about being bored or maybe missing the routine are gone.

    Thanks for stopping by. Hope your freedom lasts forever. 🙂

    Take care!

  26. Liam,

    I think our society is programmed to believe that money is more important than everything else. But what people fail to realize is that while money is indeed extremely important, money buys a lot more than stuff. It buys time. Gather enough money and you have all your time to yourself, PLUS you can continue buying stuff as necessary. It’s all about prioritizing. Prioritize your time first, and the rest will follow.

    Cheers!

  27. Kevin,

    I know exactly what you mean! Been there, done that. That’s happened to me many times. It sucks when it happens, but it just reinforces what I’m doing. 🙂

    Use that experience as ammo!

    Take care.

  28. Avrom,

    Man, I hope you’re right. I think you may just have more confidence in me than I do. I really appreciate the support!

    I know for sure that before I’m 40 I’ll be clocking out for the last time. Not sure if I’ll have a $1 million portfolio by then, but I also know I won’t need one. This little preview has showed me I need to hurry it along. My life is passing me by.

    Hope all is well in Vancouver. I’m still mulling over FinCon. It’d be great to meet you there.

    Best wishes.

  29. FI UK,

    Oh, I hate that! Beautiful weather all week long, and then thunderstorms all weekend. That SUCKS!

    Luckily, I’ve been blessed with really great weather during this time.

    Last week was extremely productive, and I wanted to see what FI really looked like. So I kept to a normal routine with the gym, writing, and everything else. This week I’m going to take it easy because I’m going to have a lot of hard work in front of me for the rest of the year. Today I took a vow to not get out of my pajamas. 🙂

    Thanks for stopping by!

    Cheers.

  30. chris,

    Great idea. Hopefully somebody out there that has already gained access to complete freedom can chime in a bit and share with the class exactly what it looks and feels like. While I certainly have enjoyed this week, it’s still just a fraction of time when I think about having the rest of my life all to myself.

    Hopefully someone joins in! 🙂

    I’m still trying to find someone to interview that retired early off dividend income. Derek Foster is the only person I’ve been able to land so far. Hopefully I can get someone else soon.

    Best regards.

  31. Jason,
    Great article – I agree with you. I am just curious – I have not seen mention of your girlfriend in a while. I bring this up as living frugally becomes increasingly difficult if you plan to share your life with someone, start a family, purchase property and other responsibilities. As part of your “retirement at 40” are you factoring in these life events? Having just purchased another property (primary residence) in Orange County with my wife, and with twins on the way, we could not be more excited about life! But these joys come at an expense, and with our like-minded approach I know we’ll continue to be successful, but sacrifices/prioritization has to occur. It is not comparable to generate a solid savings rate as you do, with these additional factors. I remember being single and generating a similar savings rate here in SoCal – enabled me to buy my first apartment on the beach. Keep up the great work.

  32. Status Symbols:

    Wouldn’t it be hilarious if Rappers stopped rapping about bling, cars and yachts, and instead bragged about their dividend growth rate last year.

    I think you’re right. It is a status symbol that you saved, and were smart about investing. Funny how we don’t brag about it more. Instead people give funny looks when you say you’re leaving the workforce.

  33. I’m 2+ yrs into my full time career after college, so it’s still a hard charge ahead for me for the forseeable future. I am saving ~50% of my aftertax income, so investing for the future is definitely a priority for me. I don’t have a set goal yet. I don’t know how I feel about working forever, or retiring early, or something in between, but I do know that I would love to have the freedom to choose any path and not have to worry about supporting a nice lifestyle for a family while not being chained to a job that pays the bills.

    Hopefully I can find someone in the future that thinks similar to myself in this regard so we can both be free and enjoy life!

  34. @1111: Hehe that rap would be really funny indeed =D “Yeye the moon was up ´n me and my crew were checkin´ the earnings report, aha ye”

    Jason! Congrats on the new site, looks great! As part of the choir, I totally agree, freedom is the true status symbol. Glad to hear you´r enjoying your time off work! Don´t forget to use some of that time to just relax =)

    A friendly, serious piece of advice:
    About 7-8 years ago I got burnt-out and slowly had build my strength back up. I really didn´t see it coming until I guess it was to late, suddenly I got really depressed and had absolutely no physical or mental strength left at all. I can still to this day, out of the blue, start to feel depressed and mentally fatigued, most of the time I find myself a bit stressed up and need to slow down for a day or two, and the symtoms are all gone. It´s important to just relax from time to time =)

    That´s part of the reason I pursuit FI, to keep my stress level low while constantly pushing myself towards my goals in life.

    /zicam

  35. MG2050,

    Congratulations on the upcoming twins. Very exciting time!! 🙂

    Thanks for asking about my girlfriend. She’s great. And while she doesn’t necessarily share my goal to retire at a young age, she’s been incredibly supportive of what I’ve doing over the last few years. I think it’s imperative to have a great network of supportive people in your life if you want to do something like this. Luckily, she completely understands what I’m after and supports my ideas 100%.

    That being said, I don’t have any plans to build a family. I was open about that when I first met her, which was even before I started this whole journey to financial independence. And my goal of early retirement has nothing to do with this, but rather I just don’t have a desire to have children or build a family. I’ve been that way for a long time now.

    But congrats again on your success. In the end, it’s all about being happy. And it sounds like you’re very happy.

    Take care.

  36. 1111,

    That would be funny. No more rented Bentleys in music videos. You’d just see a rapper just sitting at a table checking out his brokerage account and looking at financial statements. Wouldn’t that be funny?

    Thanks for that. Pretty funny stuff!

    Cheers.

  37. Ravi,

    Great job there saving half of your income so early out of the gate. You’re poised to do very well if you keep that up! I got a late start on things, and I’m already doing relatively well. So just imagine what’s possible for you!

    And you’re right. Freedom isn’t about hating your job. I actually have an article already finished that explains that point. Financial freedom is simply about having choice. It’s about not being handcuffed to a job. Whether or not you like your job is really irrelevant. Choice is still choice. And choice is invaluable.

    Thanks for stopping by!

    Best wishes.

  38. Zicam,

    Thanks so much! I’m glad you like the site. I also revamped the email system, so it’s much better than what Feedburner was offering.

    I’m going to take your advice to heart this week. Last week was really busy with getting the content moved over to WP, setting up the new site, catching up on some writing and investment research, and getting my social media accounts up and running. I also ate like I usually do (read: fairly healthy) and worked out like a madman. This week, however, I’m going to take it really easy. I’m going to veg out a little, skip the gym for a couple days, and just relax. I’m going to try and hit the beach at least twice, and today I’m in my pajamas all day! 🙂

    Last week was kind of an experiment for me. I wanted to see what FI really looked like if it was my everyday reality. Now that I know, this week is more about relaxation.

    Thanks for the friendly advice. I couldn’t agree more!

    I hope you get your time to relax now and then as well.

    Best regards.

  39. I like the unabashed admission that we seek out status. To deny that is to deny part of what makes us human. And, yeah, I think it’s a lot more impressive to see someone financially independent, lounging on his front porch in shorts and flip flops, than to see a guy killing himself to live, driving a Benz and making payments on a 5 bedroom monstrosity.

  40. Jason, Thanks for the motivational post. I’m very early to the quest for financial freedom. Can you remember when you first started your quest? Why am I suffering? I should be in the mall or buying something fancy to impress my neighbors. I am only starting my second year and I can’t believe how much money I have managed to save and invest on a very middle class salary. \\

    Thank you for keeping it real. Shopping for me. is now what company do I wan’t to be an owner in. Continued success my friend. Thank you.

  41. Awesome post Jason! Money buys you freedom. When your living expenses are taken care of via dividends, you are free to do whatever you want! I share your goal, I’m not interested in fancy cars, boats, or planes. Dividend income will allow me to enjoy the things I cherish most in life.

  42. Thanks for compliment DM! It’s nice to hear others compliments on the work because I’m so critical of myself on every project. It’s unrealistic to think everything I do will be professional quality since everything I’m doing is a first time experience, but that doesn’t keep me from getting pissed when it’s not perfect! 🙂

    One of the things I’ve always admired about you is your devotion to cause. Your consistency is amazing, it truly is. That being said I wouldn’t worry too much about what happens if you change course. Adjusting a plan is a natural course of events in line with the evolution of our own thinking that occurs over time in light of experience. It may not be an issue for you, but I’m sure somewhere in the back of your mind there is a voice that whispers to you why you can’t change now, but you can and all those who follow your journey will continue to do so. Besides, that is all there is; the journey…

    I have no doubts that your expenses would go down. You’ve proven you have the ability to control your expenses to any level you choose. When you’re using your time the way you want and doing things you really enjoy and find mentally stimulating, there is less desire to do things that don’t require any effort because you’re exhausted from working 50+ hrs. in a week.

    Here is your homework assignment: Brainstorm what you could do to make side income if you had that 200 hrs. a month to devote to your own interests. You can obviously make money online. I know you are into working out, would working as a trainer interest you? Writing more for various sources? What are your own ideas???? Doing a mixture of several different things would not only diversify your income, but keep you stimulated because it’s not the same thing over and over again while allowing you work you own schedule.

    This is something I’m doing myself, but have found it hard to break away from the old mind set of a standard work week. For me I’ve thought of how I could continue to increase my skill set in home renovation to do side work. Purchasing other houses and either rehab/flip or rent. Perhaps devoting more time to my blog and actually giving it the consistency it deserves.

    What I think is really cool for folks like us that have zero to little debt and some cash on the side is the freedom we already possess, yet don’t truly realize. That allows you to make any choice you want. Perhaps there is a skill you would like to learn, but don’t have experience or formal training. Guess what? With a little cash put aside to live off you could initiate your own “internship” in that area and who knows where it would lead…

    Something to chew on my friend…

  43. DM,

    Great article! Glad to see you are enjoying the preview of financial independence. However, you list investing as one of your biggest passions, yet once your life of financial independence begins doesn’t your life of investing as you currently know it end?

  44. Enjoy your preview of freedom. Most people probably don’t understand that freedom is the ultimate status symbol. It’s so much better than a big house or a luxury car. We have so little time these days and we kept ourselves so busy with way too many things. Anyway, enjoy the rest of your vacation.

  45. DB40,

    Absolutely. Seeking and displaying status is something you’ll see in all of nature. But, like you said, the ultimate display of status is being able to lounge around all day in your robe like Hugh Hefner or The Dude if you really want to. Although I quite like being productive, I also like doing it on my own schedule. Waking up at 6:30 a.m., for instance, is not my idea of a good time. 🙂

    Thanks for stopping by. Always appreciate your perspective!

    Take care.

  46. Kevin,

    That’s great to hear! The whole point of displaying all of my numbers for the world to see is to prove that it doesn’t require a huge salary to build sizable wealth. You don’t need to make six-figures to retire early. You ability to retire is simply a function of your savings rate. And, like you, I’ve found that I enjoy shopping for stocks much more than any merchandise I might find at the mall.

    Keep up the great work. I’m glad you’ve seen the light. It takes a little while to get that snowball rolling down hill, but once it does…look out! 🙂

    Cheers.

  47. Kanwal,

    Sounds like we’re completely on the same page! Preach it, brother.

    Money buys just about anything in life, but I can think of nothing higher on my list than freedom. And while objects depreciate or break down over time, freedom just gets sweeter and sweeter.

    Best wishes!

  48. Brian,

    Thanks so much. Glad you enjoyed the piece!

    That’s a great question. I plan to address this in an article at some point, and then revisit the topic after I actually reach FI to see if my predictions hold true.

    While I won’t be in asset accumulation mode anymore, it’ll still take a few hours per week or so to manage a portfolio of ~50 positions. I’ll still be monitoring everything I do now; I just won’t be buying as many securities as I do currently. At least, that’s what I’m predicting. However, I’m hopeful that my income in early retirement exceeds my expenses by a decent margin and I’m able to slowly save enough to make a purchase here and there. We’ll see how it goes. It’s quite possible that my income will increase at a rate that far exceeds my expense growth, which would lead to a little extra money left over over time.

    Thanks for the support and readership!

    Take care.

  49. Joe,

    Thanks, man. I’m enjoying it immensely. 🙂

    I’m with you. So little time, and yet so much keeping us from actually enjoying it.

    Thanks for dropping the wisdom!

    Best regards.

  50. Stoic,

    Thanks for the thoughts there. I appreciate the perspective.

    I don’t necessarily view change of course as bad, but rather would only invite it if the end result was much greater than what already lies before me. I’ve often thought about shifting gears and maybe quitting what I do now (because I don’t enjoy it at all) to go in a different direction. However, what keeps me from doing so is the fact that I don’t know if I’d enjoy anything else enough to warrant the setback that would inevitably occur.

    For instance, I’ve thought about maybe going into the financial field at some point. But I’ve gotten emails from people in that industry that hate it. The quotas, endless meetings, office politics, long hours, selling products they don’t totally believe in…it sounds so…familiar. Then there’s the fact that I’d likely have to go back to school and/or get specific training to do this which would require time away from earning the money I do. That financial setback would be compounded by the fact that I’d have to pay for this schooling and/or training.

    I think what I may instead pursue is a course of action – if I don’t complete the journey to FI as I’ve already laid out (completely exceeding expenses by way of dividend income):

    Get close enough to FI so that dividend income covers half of my expenses. Pare down my expenditures to the point where I can comfortably get by with a combination of dividends/online income/part-time work. If I could cover, say, 80% or so of my expenses with dividends and online income only, then at that point I could maybe take on a part-time job for 10-15 hours per week. This would also allow me the necessary time to write even more, and perhaps build my online income to the point where a regular job isn’t really necessary anymore. While that wouldn’t be true “financial independence” because my income isn’t completely passive, it would be a much more enjoyable existence than what I have now. Plus, I’d just continue to sock away money and invest in companies as I do now, but just at a slower rate because I wouldn’t be able to save thousands of dollars per month.

    Anyway, any course of action like this is still probably a little ways off, but it’s something I do think about. I wouldn’t mind maybe coasting to the FI finish line! 🙂

    Thanks for the thoughts. And I look forward to you writing more if you decide to. It’ll be interesting to see if you decide to tackle more rehab projects and maybe take that in a great, new direction.

    Best regards.

  51. Another classic. Holy macro, you are on fire. I was going to write something like this in my ERE journal, but you’ve articulated it very thoroughly here. If only more people in this world came around to realizing that freedom is the ultimate luxury, we would live in a very different world. With the people like your self, Jacob, and MMM, I think that the message is getting spread and heard.

    P.S. I had to cuckle in your previous post when you asked “who is Kevin Kaiser?” Haha.

  52. Spoonman,

    Hey, don’t let me stop you from putting your own classic together. I’d love to hear your thoughts on this as well! 🙂

    And thanks for the support. I really appreciate it. I’ve said it before, but without regular readers like yourself this blog wouldn’t exist.

    And this Kevin Kaiser guy is starting to bug me. The guy comes out of nowhere and now all of the sudden Barron’s is doubting Kinder Morgan accounting principles they’ve used since the 90s because of what KK says. And I meant to say: Who the HELL is Kevin Kaiser? 🙂

    Thanks for stopping by.

    Cheers!

  53. I totally forgot you were on your little mini-retirement, but now that I think about it, it makes sense with all the articles you’re cranking out lateley.

    Love the analogy of true status being freedom. I think we all agree, but it’s not that obvious. People who have all the luxuries look high status, but we know they’re usually not, but we also admire those people we see doing normal “weekend” type stuff during work hours and if we thought about it, other than some of those people being between jobs, those people are free!!

    Keep it up, hope your break continues a little longer and love the “(f)unemployment” term.

  54. Reading your blog makes me happy. It shows me what is possible and I like that you’re realistic and optimistic at the same time. I have to agree with you that freedom is the ultimate status symbol. You question the status quo and you’re honest with yourself what you want out of life. I love blogs like yours.

    It must take a lot of guts to write about your finances for the world to see. I laugh when people say, “Debt is the American Way!” or “Early Retirement is selfish!” It’s hilarious because this country was based on the concept of freedom. Freedom is not easy to attain, yet it is always worth it. Best of luck to you.

  55. Sundeep,

    This little break has given me the opportunity to see how much I’d be able to accomplish on this blog. It’s been great just being able to sit down and think. I was going to store some of these articles in the hopper and release them on my usual schedule (Sun, Tues, Thurs), but I hate sitting on posts like that. I like releasing them as they’re still fresh on my mind.

    I just think that freedom is not particularly glamorous, nor is it easy to see. The guy down the road living in the small ranch house, driving the 11 year-old Toyota might be completely financially independent, but nobody knows because nobody pays attention to that kind of lifestyle. It’s like the peacock feathers. That guy doesn’t have anything to show off, and time is something that you can’t really “display” to the world. Therefore, nobody pays attention. Instead, people chase after the status symbols that can easily be seen and displayed. It’s just in our nature.

    I always harken back to The Millionaire Next Door. In that book, you have all these millionaires that don’t live particularly glamorous lifestyles. They largely live in regular houses, drive regular cars, and eat regular food. However, they have complete autonomy. Again, it’s not easy to show this type of status symbol to the world, so most people don’t care.

    But I care. And you care. And, in the end, it’s about our life. Not what everyone else thinks of us.

    Best wishes.

  56. Lila,

    Thanks so much. I appreciate the warm words. I’m really glad this blog brings some joy to your day! 🙂

    The whole selfish argument is particularly bombastic. It makes no sense. We have this historically-high unemployment rate, and yet people want to chastise those that want to get out of the way for others that really want a job. It’s not about laziness or not liking your job, it’s about choice and freedom. And, like you said, this country was founded on freedom. Funny how people forget that. Give me liberty, or give me death, right?

    Best wishes!

  57. Very good post Jason. The passion for your goal of early FI is very evident in your soul-bearing posts like this one. My wife and I have just started making it publicly known to our friends and family that we intend to attain early retirement in 7-10 years. I’ve found its very cathartic and empowering to make this publicly known – like coming out of the financial closet so to speak. It gives an extra boost of resolve, as does continued reading of excellent blogs like yours. Press on my friend and know that I am in the trenches with you!

    P.S. I recently moved to the Jacksonville, FL area and would love to pay you a visit sometime should I be near Tampa.

    Cheers!
    Josh

  58. Jason, your post is bang on.
    “It is later than you think”, so we all need to be doing what makes us and those around us happy.
    Financial independence is the ultimate luxury, and goal, as it gives us a chance to actualize this.
    The biggest challenge I have had is reaching for higher peaks, after achieving a sustainable income.
    Part of the human condition, I suppose.
    I am certain , however, you will reach your target with such a focus. I wish you the best of luck and good health.
    Kind regards.

  59. Josh,

    That’s fantastic! Feels good to get it off your chest, right?

    I believe in the power of not just setting a goal, but also holding yourself accountable. And you’re doing that by announcing it to the world. Great stuff. 🙂

    Feels great to have this awesome community supporting me in the trenches. We’re all in this together. Inspiring you inspires me, truly.

    And if you’re ever in the area let me know. I’d love to talk shop.

    Cheers!

  60. dividendsfree,

    I hear you on the difficulty of reaching for higher peaks. I also feel a bit bogged down right now. With the extra income coming in via the blog and dividends I should be routinely hitting an 80% savings rate. But I’m held back by expenses I didn’t have a couple years ago, like health insurance and a car. I’m also eating healthier as well. My quality of life is certainly very high right now, but I do miss the good ol’ days a bit when I was spending less than $1,300/mo.

    Thanks for the kind words and the support. It’s really very much appreciated. I hope you stick around we continue to inspire each other!

    Best regards.

  61. Yes freedom is something I am struggling with as well. I want it, but financially I am not there yet. I even tried to convince my family to move to florida, as to speed up that freedom goal.

  62. EL,

    Moving to Florida was a great decision for me. It gave me access to a much better labor market (compared to Michigan), a climate that made it easier to get around without a car, and a state that doesn’t tax my income.

    However, as with everything in life this move did not come without its fair share of drawbacks. I miss my family a lot, and it gets harder and harder as the days go on. If you could eventually get your whole family to come that would be a lot better than my situation. 🙂

    Good luck attaining freedom one day!

    Cheers.

  63. Totally agree that freedom is the ultimate status symbol. Love how you bring clarity to things and offer a fresh new perspective on stuff.

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